ACCOUNTING CHANGES AND ERROR CORRECTIONS

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ACCOUNTING CHANGES ANDERROR CORRECTIONSContentsINTRODUCTION 1ACCOUNTING CHANGES 2ERROR CORRECTIONS 4RECLASSIFICATIONS 8OTHER CONSIDERATIONS 9IntroductionThe financial markets depend on high quality financial reporting A fundamental pillar of high quality public financial reporting is reliable, comparable financial statements that are free from material misstatement ACCOUNTING CHANGES and errors in previously filed financial statements can affect the comparability of financial statements In this publication, we provide an overvi

considerations outlined in the extensive materiality guidance set forth in SEC Staff Accounting Bulletin (“SAB”) Topics 1 M and 1 N (formerly referred to as SAB Nos. 99 and 108, respectively). Materiality should be assessed with respect to the misstatement’s impact on prior period financial

  Change, Accounting, Correction, Errors, Materiality, Accounting changes and error corrections